Breaking: Lawyers Might Sell QuadrigaCX to Settle Debts

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The laptop of recently deceased Gerald Cotten will be given to lawyers, and the crypto exchange might be sold to satisfy debts.

Prosecutors will get the encrypted laptop of recently deceased CEO of major Canadian crypto exchange QuadrigaCX Gerald Cotten, Canadian broadcast network CBC reports Tuesday, Feb. 5.

According to CBC, the laptop that might provide access to $190 million of QuadrigaCX customer funds will be given to lawyers. Moreover, the lawyers are considering selling the company in order to satisfy the debts.

Canadian cryptocurrency exchange QuadrigaCX has faced financial difficulty since its CEO Gerald Cotten reportedly died of complications from Crohn’s disease in December 2018.

According to a January affidavit filed by Cotten’s wife, the exchange apparently had no access to its wallets, and the CEO had not left evidence of passwords. The reported number of users affected is 115,000, with around $250 million CAD ($190 million USD) in cryptocurrency and fiat currency lost.

This article will be updated as the story breaks.

Source: , CoinTelegraph

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